NATGAS: Henry Hub Maitains Gains Ahead of EIA Storage Data

Henry Hub holds onto recent gains ahead of the updated EIA gas storage data with another week of below average injections expected.

• The EIA weekly gas inventories for the week ending Aug 9 will be released this afternoon at 10:30 ET (15:30BST). The expectation is for a build of 3bcf according to a Bloomberg survey following a build of 21bcf the previous week. The seasonal normal is a build of around 39bcf.
• US LNG export terminal feedgas flows recover further to 12.74bcf/d today, according to Bloomberg, with Sabine Pass flows rising 0.6bcf/d on the day.
• US domestic natural gas production was relatively unchanged again at 101.5bcf/d yesterday according to Bloomberg but below start of month levels due to a drop from Appalachia.
• Domestic natural gas demand is today up to 77.0bcf/d and near the upper end of the previous five year range, according to Bloomberg. The lower 48 weather forecast shows temperatures easing slightly lower over the coming week before rising again later in the month with central regions and the Gulf Coast above normal and east and west coasts closer to normal.
• Export flows to Mexico are today slightly lower to 6.82bcf/d according to Bloomberg.
• Nymex Henry Hub daily aggregate traded futures volume was 503k on Aug 14.
  • US Natgas SEP 24 up 0.6% at 2.23$/mmbtu
  • US Natgas FEB 25 up 0.1% at 3.42$/mmbtu
  • US Natgas AUG 25 up 0.3% at 3.32$/mmbtu